(January 9, 2020, 11:22 AM EST) -- NEW YORK — A federal district court erred in ruling, inter alia, that the Securities and Exchange Commission possessed the necessary authority to enforce the suspicious activity reporting (SAR) requirements of the Bank Security Act (BSA) against a clearing firm for its alleged mishandling of its BSA compliance program in violation of federal securities law, the clearing firm argues in a Jan. 6 appellant brief filed in the Second Circuit U.S. Court of Appeals (United States Securities and Exchange Commission v. Alpine Securities Corp., No. 19-3272, 2nd Cir.)....